In an epic display of volatility late Saturday night into Sunday morning, the BCH/BTC pair completed a maniacal roundtrip in less than 10 hours, with a euphoric spike from .2 to .55 followed by an equally forceful collapse back down to .20.
Bitcoin Cash put in a high print of $2799 on Kraken and currently sits near $1400. Well over $10 billion BCH changed hands, almost half of the current $24 billion market cap.
Following a surprising decision late in the week to suspend the Segwit2x hard fork, the bitcoin market has experienced elevated volatility, with magnified money flows into and out of many other cryptocurrencies as well.
BTC/USD traded below $5600 overnight, almost 30% off the all-time highs set this week. It has rebounded to trade $6100 in recent transactions.
Political jockeying by major entities continues to unfold on social media platforms, while traders and market enthusiasts watch the action with wide, sleep-deprived eyes.
Stay tuned as this show is far from over.
